Rationale: With rupee testing 60/USD telecom firms which have foreign currency debt exposure areset to be hurt by the ongoing slide in the rupee but Bharti is better placed as it is repaying its debt from the cash flows of African operation. In Africa, a majority of Bharti's revenue comes from Nigerian geography, the currency of which (Nigerian naira - NGN) has in fact appreciated in the last three months. So Bharti is not expected to undergo any negative impact due to the rupee's sharp depreciation. Due to translation of accounts into rupee denomination, the company might see translation losses on the interest repayments front but it will not incur any economic losses.